Zoellick: Break Up the Group of Seven

The World Bank president says the group doesn't adequately represent a global financial system that is dispersed and endangered

World Bank President Robert Zoellick said on Monday, Oct. 6, that the global financial crisis is getting "a wake-up call," indicating that the world's financial system needs a fundamental shakeup. For starters, he says, Western industrial powers should disband their clubby Group of Seven, and embrace a more flexible, broader-based group of nations reflecting today's more dispersed financial realities.

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